Riyadh – Mubasher: Citigroup Saudi Arabia (CSA) and Goldman Sachs Saudi Arabia on Thursday announced the latest developments regarding receiving a notification from NatWest Markets and Banco Santander S.A. in connection with a secondary sale of shares in Saudi British Bank (SABB).
Citigroup said that joint bookrunners and joint brokers, CSA and Goldman Sachs Saudi Arabia, have completed the accelerated bookbuilding process to sell 31 million shares in SABB, according to a bourse disclosure.
The shares will be acquired by Citigroup Global Markets Limited and Goldman Sachs International from NatWest Markets and Banco Santander S.A. for sale to end-investors on 3 September 2020.
The allocated shares represent approximately 1.5% of SABB’s issued share capital, the price per share is SAR 24.24, and the total proceeds are SAR 751.440 million.
Following the successful completion of the placing, the ownership of NatWest Markets in SABB will be around 3.3%, while the ownership of Banco Santander S.A. in SABB will be approximately 2.4%.
SABB will not receive any proceeds from the placing, the statement said.
